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German export down 3.4%

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Staff writer ▼ | January 9, 2013
German Federal Statistical Office (Destatis) reported new industrial data that show that country exports decreased in November by 3.4% and imports by 3.7% compared with October 2012.
German economy
German economyGerman Federal Statistical Office (Destatis) reported new industrial data that show that country exports decreased in November by 3.4% and imports by 3.7% compared with October 2012.


Germany exported commodities for 94.1 billion euros and imported commodities for of 77.1 billion euros in November 2012. In other words, German exports in November 2012 were unchanged on November 2011 and imports were down by 1.2%, and after calendar and seasonal adjustment exports decreased by 3.4% and imports by 3.7% compared with October 2012.

The foreign trade balance showed a surplus of 17.0 billion euros in November 2012. In calendar and seasonally adjusted terms, the foreign trade balance recorded a surplus of 14.6 billion euros in November 2012. According to provisional results of the Deutsche Bundesbank, the current account of the balance of payments showed a surplus of 15.3 billion euros in November 2012; in November 2011, the German current account showed a surplus of 16.1 billion euros.

In November 2012, Germany dispatched commodities to the value of 53.0 billion euros to the Member States of the European Union (EU), while it received commodities to the value of 50.0 billion euros from those countries. Compared with November 2011, dispatches to the EU countries decreased by 4.0%, and arrivals from those countries increased by 0.9%. Commodities to the value of 35.0 billion euros (–5.7%) were dispatched to the euro area countries in November 2012, while the value of the commodities received from those countries was 34.8 billion euros (+1.1%).

In November 2012, commodities to the value of 18.0 billion euros (–0.6%) were dispatched to EU countries not belonging to the euro area, while the value of the commodities which arrived from those countries was 15.3 billion euros (+0.5%).

Exports of commodities to countries outside the European Union amounted to 41.1 billion euros in November 2012, while imports from those countries totalled 27.0 billion euros. Compared with November 2011, exports to third countries increased by 5.6%, while imports from those countries decreased by 4.9%.


 

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